ICSC Las Vegas 2026: Six Trends Shaping the Next Chapter of Retail Real Estate

This post was co-authored by Kala Watson and Rachel Ebling

Every year, ICSC Las Vegas offers a glimpse into where retail real estate is headed. As the industry's largest annual gathering, the conference brings together developers, brokers, retailers, investors, owners and media for several days of dealmaking, networking and industry conversation. For Identity, it also provides an opportunity to hear directly from the people shaping the market as our team coordinates media interviews, supports client announcements and helps organizations maximize one of the industry's biggest stages.

This year, we walked away with more than a collection of meeting notes. Across dozens of conversations with clients, journalists and industry leaders, several themes consistently surfaced. Some reflected trends that have been building for years. Others demonstrated how quickly commercial real estate continues to evolve.

1. Retail Is Focused on Growth, Not Recovery

The overall tone and feeling at this year's conference was noticeably optimistic, which aligns with broader retail forecasts. The National Retail Federation projects retail sales will grow between 2.7% and 3.7% this year despite ongoing economic uncertainty, reinforcing the confidence many retailers expressed.

While economic uncertainty, construction costs and interest rates remain part of the conversation as in previous years, they no longer dominated it. Instead, retailers, developers and brokers spent far more time discussing expansion opportunities, new developments and where future demand is headed.

While meeting with reporters, many of Identity’s clients described strong leasing activity and continued retailer interest, particularly throughout Texas and other high-growth Sun Belt markets. Companies remain disciplined about where they invest, but they are no longer waiting for perfect economic conditions before moving forward. The conversation has shifted from whether to grow toward >where to grow, and that subtle change says a great deal about the industry's current outlook.

2. Convenience Is Driving Leasing Decisions

If there was one idea that surfaced repeatedly throughout our media interviews, it was convenience. Retailers are increasingly looking for locations that fit naturally into consumers' daily routines rather than destinations that require a special trip. Months later, this sentiment holds.

Mixed-use developments continue to gain momentum because they allow people to grocery shop, work out, grab coffee, meet friends for dinner and complete everyday errands in one location. That convenience creates something increasingly valuable for retailers: longer dwell times and more opportunities for repeat visits. The conversations we heard around grocery anchors and daily-needs retail also reflect broader market conditions. According to JLL, demand for grocery-anchored shopping centerscontinues to exceed available supply, helping sustain rent growth and investment activity across the sector.

Rather than simply measuring traffic counts, owners and tenants are paying closer attention to how long visitors stay, how many stops they make during a single visit and whether a property's mix of uses encourages customers to return several times each week. Walkability, residential integration and thoughtfully curated tenant mixes are becoming meaningful competitive advantages rather than amenities.

3. Experiential Retail Continues to Expand

Experiential retail remains one of the industry's defining trends. However, the definition of what constitutes experiential retail continues to evolve. While entertainment venues and restaurants still play an important role, many conversations this year centered around fitness, wellness, medical retail concepts and sports-oriented developments that encourage consistent visitation.

Fitness centers, wellness providers and service-oriented concepts generate repeat traffic because they become part of consumers' regular routines rather than occasional destinations. That steady activity benefits neighboring retailers while creating a stronger sense of place for the overall property.

Several media conversations also explored how medical retail, health services and wellness concepts are evolving alongside traditional retail. While specific tenants may change over time, the broader demand for health, wellness and lifestyle-oriented experiences appears likely to remain a meaningful part of the retail landscape.

That momentum extends beyond retail real estate. The Global Wellness Institute projects the global wellness economy will reach $9.8 trillion by 2029, helping explain why fitness, medtail and wellness concepts continue attracting attention from developers and retailers alike.

4. AI Has Become Part of Everyday Business

Artificial intelligence certainly had a presence at ICSC, but the conversation has matured considerably over the past year. Rather than asking whether AI belongs in commercial real estate, companies are increasingly discussing how they are integrating it into everyday operations.

From workflow automation and internal AI platforms to operational efficiencies and decision support, many organizations are moving beyond experimentation and into implementation. AI was not necessarily the headline driving every interview, but it was consistently part of conversations about how companies plan to operate more efficiently and serve clients more effectively. The conversations we heard also mirror Deloitte's 2025 Commercial Real Estate Outlook, which identifies generative AI as one of the defining forces reshaping the industry alongside inflation, interest rates and evolving tenant expectations.

Like many industries, commercial real estate appears to be entering a phase where AI becomes infrastructure rather than novelty.

5. Relationships Still Matter Most

For all the discussion around technology, one takeaway felt remarkably familiar. Commercial real estate remains a relationship business, and face-to-face conversations continue to create opportunities that simply cannot be replicated online.

Throughout the conference, our team facilitated meetings between clients and journalists we work with throughout the year. Those conversations often produced story ideas, market insights and future opportunities that extended well beyond a single interview. Even as digital communication and AI become more integrated into everyday work, spending time together in person continues to strengthen trust and create better outcomes for everyone involved.

That reality may become even more important as technology continues to reshape how people communicate. The easier it becomes to automate outreach and generate content, the more valuable authentic relationships become.

6. Conferences Have Become Year-Round Communications Campaigns

Perhaps the biggest shift was not happening on the show floor itself. It was happening in how companies prepared for the event months in advance.

Booths remain important, but they are increasingly just one part of a much broader communications strategy. Organizations are investing in real-time executive interviews, podcasts, digital advertising, sponsored content, research reports, video production and social media campaigns that begin well before attendees arrive in Las Vegas.

Several of the campaigns we supported this year combined earned media, paid media and original content to build momentum before the conference while extending visibility long after it concluded. That integrated approach allows organizations to maximize one of the few moments each year when the commercial real estate industry is paying attention to the same conversations.

Increasingly, companies are asking a different question. Instead of wondering what they should do at ICSC, they are asking how they can build a communications strategy that begins months before the conference and continues long after everyone returns home.

Looking Ahead

ICSC Las Vegas 2026 reinforced that retail real estate continues to evolve from a position of confidence rather than caution. Retailers remain focused on disciplined expansion, mixed-use developments continue gaining momentum, experiential concepts are becoming more sophisticated and AI is finding practical applications across the industry.

Perhaps the biggest takeaway, however, is that communications itself continues to change. Industry events are no longer isolated moments on the calendar. They have become opportunities to connect earned media, executive visibility, digital content, advertising, thought leadership and relationship building into one integrated strategy.

For organizations willing to think beyond the booth and approach conferences as part of a broader communications effort, the value extends far beyond a few days in Las Vegas. The conversations begin long before the doors open and continue well after the convention center empties, creating momentum that lasts throughout the year.

Post Summary: ICSC Las Vegas 2026 Retail Real Estate Trends

• ICSC Las Vegas 2026 reflected an industry focused on disciplined growth rather than economic recovery.
• Retailers continue expanding in high-performing markets while remaining selective about new locations and investments.
• Convenience-driven retail, grocery-anchored centers and mixed-use developments are shaping leasing decisions by increasing dwell time and repeat visitation.
• Experiential retail continues to evolve through fitness, wellness, medical retail and other service-oriented concepts that encourage frequent customer engagement.
• Artificial intelligence is moving from experimentation to practical implementation, with commercial real estate firms using AI to improve workflows, operations and decision-making.
• Despite advances in AI and digital communications, face-to-face relationships remain essential for media engagement, business development and long-term partnership building.
• Companies are increasingly treating ICSC as a year-round communications campaign by integrating public relations, executive visibility, thought leadership, social media, video and paid media before, during and after the conference.
• Identity helps commercial real estate organizations maximize major industry events through integrated communications strategies that extend visibility well beyond the conference floor.

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